Robert Besser
18 May 2025, 10:07 GMT+10
CHICAGO, Illinois: U.S. cattle farmers have either started rebuilding their herds or are close to it, according to Tyson Foods CEO Donnie King. This comes after the cattle supply dropped to its lowest level in 74 years.
Due to the shortage, beef prices have increased, and meat companies such as Tyson, Cargill, and JBS are paying more to purchase cattle for processing.
Farmers had reduced their herds during a prolonged drought, which made it more complex and more expensive to feed and raise cattle. Instead of keeping animals to have more calves, many farmers sold them for meat. Continued dry weather over the past year has led many farmers to delay rebuilding, which typically takes around two years.
"Everyone, including me, is cautious about saying the rebuilding has begun," King said during a webcast of BMO's Farm to Market Conference. "But if it hasn't started yet, we're very close."
Tyson reported an adjusted operating loss of $181 million in its beef business for the six months ended March 29.
Get a daily dose of Birmingham News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Birmingham News.
More InformationBENTONVILLE, Arkansas: Walmart shoppers are bracing for price hikes as the world's largest retailer prepares to pass on the impact...
CHICAGO, Illinois: U.S. cattle farmers have either started rebuilding their herds or are close to it, according to Tyson Foods CEO...
WASHINGTON, D.C.: Smartphone shipments to the United States jumped 30 percent in March as manufacturers including Apple, Samsung, and...
CHICAGO, Illinois: Kraft Heinz is committing US$3 billion to revamp its U.S. manufacturing plants, marking its largest investment in...
STOCKHOLM, Sweden: Sweden plans to propose that the European Union join the Pacific Rim trading bloc, the CPTPP, aiming to create the...
NEW YORK, New York - U.S. stocks closed higher Friday with all the major indices capping weekly gains in the process. Markets are...
MINNEAPOLIS, Minnesota: The Minnesota Vikings will play two international games in 2025 — one in Ireland and one in the UK — as the...
STOCKHOLM, Sweden: Sweden plans to propose that the European Union join the Pacific Rim trading bloc, the CPTPP, aiming to create the...
Museums are increasingly seen as neutral, inclusive spaces where people from diverse backgrounds can come together through history,...
(250518) -- IMOLA, May 18, 2025 (Xinhua) -- Red Bull Racing's Max Verstappen (back) of the Netherlands and Williams' driver Alexander...
New Delhi [India], May 18 (ANI): India's apparel and home textiles trade with the United Kingdom is poised for significant growth,...
Cannes [France], May 18 (ANI): The Jennifer Lawrence and Robert Pattinson starrer 'Die, My Love' earned a six-minute standing ovation...